When people say there is no incentive for them to be at 51%, I think of the numerous times humans have contributed to the extinction of a species, even though their livelihoods depended on keeping the species alive and thriving. I'm hoping history doesn't repeat itself here.

This 51% risk is the biggest obstacle to me buying more BTC. If I thought there was even the remotest possibility it could happen, I think I'd sell the coins I now have too Would love to hear from someone who really knows about it. And surely, if the governments wanted to put an end to BTC, they could organise it.

Why would Ghash.io want to go past 51%? It's like comitting financial suicide.Yes you can steal coins if you go past 51%, but BTC will go into instant panic sell and crash since the trust is gone.If you only get 0.5% of all minted coins you're getting filthy rich already....

That said if they cross 51% or even 99% who says that they will abuse the system? I must say it would make me uneasy....

I also think many miners would shift to a different miningpool just to save bitcoin...

Bitcoin is like a box of chocolates. You never know what you're gonna get !!

What most people fail to realize is that 51% does not mean BTC will suddenly drop off the face of the internet, nor will ghash be able to freely take coins as if a big button appeared for them as they crossed it.

They've also stated several times that they do not want to cross that line, as even if they did break bitcoin and give themselves a huge amount, who will buy it? Inflation such as that caused by a successful 51% attack does not cause a steady price - it would crash the moment they crossed the line, meaning they would get nothing out of it and the bitcoin community would be crippled, not something ghash wants considering they make most of their money from people trading btc!

I wouldn't get too cocky if I were you guys... I've just finished watching this https://www.youtube.com/watch?v=bi2thGzzNSs and I realized that their government could easily initiate a 51% attack Once bitcoin start hurting their economy, I wouldn't be surprised if they do something like that.So basically, right now, they are like a cat playing with a cockroach.. I conclude that bitcoin still has a few more years left to live... unless you piss this cat reaally hard

A 51% attack just became a costly waste of time the idea president here renders it useless.

What most people fail to realize is that 51% does not mean BTC will suddenly drop off the face of the internet, nor will ghash be able to freely take coins as if a big button appeared for them as they crossed it.

They've also stated several times that they do not want to cross that line, as even if they did break bitcoin and give themselves a huge amount, who will buy it? Inflation such as that caused by a successful 51% attack does not cause a steady price - it would crash the moment they crossed the line, meaning they would get nothing out of it and the bitcoin community would be crippled, not something ghash wants considering they make most of their money from people trading btc!

I wouldn't be particularly worried about a 51% attack. Even if someone had control of 51% of the mining power, it would not be in their benefit to try to manipulate the block chain. As soon as anyone discovered that the attack had taken place the value of bitcoin would permanently drop to zero. Bitcoin would no longer be non-centralized and nobody would want to use it due to the major security flaw. I don't think anyone will ever control 51% of mining power though without like quantum computing or something.

I wouldn't be particularly worried about a 51% attack. Even if someone had control of 51% of the mining power, it would not be in their benefit to try to manipulate the block chain. As soon as anyone discovered that the attack had taken place the value of bitcoin would permanently drop to zero. Bitcoin would no longer be non-centralized and nobody would want to use it due to the major security flaw. I don't think anyone will ever control 51% of mining power though without like quantum computing or something.

Until 2-3 days ago, the total hashrate went up to 98-99 Peta Hash. Since then, it has calmed down to 86-87 PHs. Cex/ghash responded by ramping up to 41-42 PHs and is currently sitting at 39 PHs. It's a little bit disconcerting because they had been hashing at around 35% for a long time and to see them ramp up to 45% of the total will cause many miners to move to other pools like bitcguild and eligius.

Cex/Ghash had promised that they would never go to 51%; however, they have not kept other promises, such as allowing cloud miners to mine at other than ghash.io pool.

As others have said above, it boggles my mind why anyone would buy GHs at cex, it's overpriced and you are charged outrageous fees and you are giving your hard earned money to crooks, swindlers and inside manipulators at cex. There must be lots of feeble minded people around the world.

Leave it to Reddit to get all bent out of shape and paranoid over this. I'm not particularly worried about a 51% attack. But I also think.... why aren't miners switching pools yet? Didn't this same thing happen a few months ago?